Federated Hermes Inc. Has $18.49 Million Stake in Valero Energy Corporation (NYSE:VLO)

Key Points

• Federated Hermes Inc. increased its holdings in Valero Energy by 14.4%, acquiring an additional 17,595 shares, bringing its total investment to approximately $18.5 million.
• Valero Energy's Q2 earnings report revealed $2.28 earnings per share, exceeding analysts' expectations of $1.66, despite a 13.3% decline in revenue year-over-year.
• The company recently declared a quarterly dividend of $1.13 per share, with an annualized yield of 3.3%, but has a high dividend payout ratio of 188.33%.

Federated Hermes Inc. raised its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 14.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,960 shares of the oil and gas company's stock after acquiring an additional 17,595 shares during the period. Federated Hermes Inc.'s holdings in Valero Energy were worth $18,485,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in Valero Energy in the first quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. raised its holdings in shares of Valero Energy by 156.6% during the first quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock valued at $28,000 after buying an additional 130 shares during the last quarter. Ameriflex Group Inc. bought a new stake in shares of Valero Energy during the fourth quarter valued at approximately $29,000. Iron Horse Wealth Management LLC bought a new stake in shares of Valero Energy during the first quarter valued at approximately $44,000. Finally, North Capital Inc. bought a new stake in shares of Valero Energy during the first quarter valued at approximately $58,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on VLO. Raymond James Financial lifted their price target on Valero Energy from $155.00 to $172.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 15th. Mizuho lifted their price target on Valero Energy from $158.00 to $166.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. UBS Group lifted their price target on Valero Energy from $164.00 to $165.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wolfe Research cut Valero Energy from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Finally, Evercore ISI initiated coverage on Valero Energy in a report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 target price on the stock. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Valero Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $154.47.

Valero Energy Price Performance

Shares of NYSE VLO traded down $4.14 during trading on Friday, hitting $133.17. The company had a trading volume of 2,250,348 shares, compared to its average volume of 3,290,427. Valero Energy Corporation has a 52 week low of $99.00 and a 52 week high of $155.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. The company has a market cap of $41.71 billion, a P/E ratio of 55.49, a PEG ratio of 3.12 and a beta of 1.03. The business's 50-day moving average is $138.61 and its 200 day moving average is $131.17.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The firm had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. During the same period in the previous year, the company posted $2.71 EPS. The company's quarterly revenue was down 13.3% compared to the same quarter last year. Equities research analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st will be issued a $1.13 dividend. The ex-dividend date is Thursday, July 31st. This represents a $4.52 dividend on an annualized basis and a yield of 3.4%. Valero Energy's dividend payout ratio is currently 188.33%.

Valero Energy Company Profile

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.